Loan question

So I took out a $1000 loan through mogo to pay my bills. I was falling behind as my finances weren’t so great after the Christmas break. When I signed up for the loan they automatically signed me up for an optional loan insurance which is $26 bi weekly. It’s for if something happens where you can no longer pay your loan. I was thinking of cancelling it as it’s going to cost me an extra $650 in the 12 months I have to pay the loan off. So with that on top of my loan payments I’d be paying a total of around $1900 for a $1000 loan. Is it worth it to keep the insurance or is that just a money grab on their part? I really was agains one of these kinds of loans but all of my bills were past due and I had to pay them somehow 🤷‍♀️